Ripple CLO Criticizes US Crypto Regulation at Zurich Forum

• Stuart Alderoty, CLO of Ripple, criticizes the US regulatory framework for its lack of clarity.
• Ripple releases 1 billion XRP from escrow, influencing market dynamics.

Stuart Alderoty, Ripple’s Chief Legal Officer (CLO), recently expressed his concerns about the U.S. strategy to control cryptocurrencies. His comments were made during a panel discussion at the Point Zero Forum in Zurich, Switzerland.

Alderoty expressed his discontent with the US legal system regarding digital assets, stressing that the consistent application of good regulation should produce the expected results.

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Ripple CLO highlights overregulation and inconsistency

Alderoty turned in particular to the United States Securities and Exchange Commission (SEC) and Chairman Gary Gensler for what he believes is excessive regulation. He emphasized how the SEC’s activities have frustrated the bitcoin industry.

Alderoty argues that the lack of uniformity and clarity in the U.S. regulatory environment is slowing the evolution and acceptance of digital assets. He said:

“Good regulation, if applied consistently, leads to predictable outcomes. Unfortunately, the United States fails this test miserably compared to its global counterparts.”

This criticism highlights a more general problem in the sector, whereby many operators believe that the current US regulation Not only is politics uneven, it also hinders innovation.

Market data and recent developments

CoinMarketCap data shows that, at the time of writing, XRP the price is around $0.4359having increased by 3.76% in the last 24 hours. In the last seven days, it has shown a bearish position, declining 8.27%These changes in the market further complicate the regulatory issues facing the industry.

On the other hand, CNF pointed out earlier this month that Ripple has released 1 billion XRP from escrow. This action is part of Ripple’s ongoing plan to control the production and distribution of XRP on the market. Such changes are vital as they can significantly impact investor sentiment and market dynamics.

Alderoty’s remarks at the Point Zero Forum reflect the sentiment of many in the cryptocurrency community: the need for more consistent and clear legislation. The demand for a legislative framework that fosters innovation while ensuring investor protection becomes increasingly crucial as the industry develops and expands.

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